One of the questions we get asked regularly is if you should register for VAT or not. Hopefully, with this blog, we’ll try and answer all the questions you may have. There are some considerations, but it’s not all bad! When should I register for...
It’s that time of year when people who are already self-employed are breathing a sigh of relief after filling in their returns, but it’s also the time when a lot of employed people starting thinking about starting their own business too. There are so many...
Taxes take up a considerable amount of time! They can also cost your business more money than necessary if you're not submitting your VAT returns in the correct manner. So, with that in mind, read on to discover how to handle VAT more efficiently. Have a separate...
More often than not, ‘bookkeeping’ and ‘accounting’ are used interchangeably. The truth, however, is that there is a considerable difference between these two practices. So exactly how are they different from each other? To better understand how these two terms vary, it is essential that we start...
Small and micro businesses are integral to the UK's economy. In 2018, there were 5.4mn UK micro-businesses, which was a total of 96% of all UK business organisations. A micro business employs between zero and nine workers. Though that might not sound like a lot, it...
Planning for VAT can be difficult for any business. This is a complex tax which is currently being revolutionised due to the UK government's Making Tax Digital initiative. It's quite possible for business organisations to under or overpays VAT, and this can cause problems. Any startup anticipating...
If you run your own payroll system, you need to be aware of all relevant legislation coming into effect in 2019. One of the most important income tax changes which will impact all your workers is the increase in personal allowances which takes effect from 6...
With more and more businesses performing nearly all of their tasks digitally, it makes sense that instances of cybercrime are on the rise. However, though this is the case, the latest research has discovered that barely half of SMEs in the UK are actually well-versed in...
The Christmas season is here again and there's no better time to treat your staff and customers. You may, however, be concerned about the costs involved in throwing a Christmas party. However, if you follow HMRC’s rules and regulations, you may get be eligible for a...
Taxation, in general, can be a minefield for the inexperienced. Specifically, understanding VAT is something a lot of businesses struggle with. It makes sense, then, for you to contact a specialist for VAT advice. But with so many out there claiming to be experts, how do...
Small businesses are the very backbone of the UK's economy. For example, in 2017 over 99% of businesses in the UK were small to mid sized companies (SMEs) with total employees of 249 or less. Although there is so much potential in the UK for success...
Tax inaccuracies and missed deadlines can lead to companies having a high price to pay. In this blog post, we take a look at HMRC tax penalties in further detail. Late tax returns One of the main reasons why people find themselves facing a fine is because they...